China's Soaring Coal Demand Fuels Global Price Surge
Market Intelligence Analysis
AI-PoweredChina's coal demand surge has driven global coal prices to multi-month highs, with thermal coal prices at Qinhuangdao port increasing by 37% from July lows, as domestic production falls due to curbs on excess capacity and oversupply.
Market impact analysis based on bearish sentiment with 77% confidence.
Article Context
Chinese and international benchmark coal prices have jumped in recent days to multi-month highs as Chinese thermal coal power generation surged in October while domestic production fell amid curbs to address excess capacity and oversupply in key industries. This week, thermal coal prices at Qinhuangdao port assessed by consultancy SteelHome hit the highest in a year as they rose by 37% from the four-year lows seen in July, data compiled by Reuters columnist Clyde Russell showed. The higher Chinese prices led to higher prices for the…
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